South Korea’s Next Election finds itself Amidst the Heat from Young Crypto Savvy Voters.

Synopsis

“The young crypto savvy investors have become a major force in South Korean elections that are to be held on March 9 this year. Being more than 10% of the total population makes them one of the most lucrative segments of people for the election candidates and all the parties have taken a favorable stance towards the crypto regulation.”

The current government of South Korea announced a 20% tax on the crypto earnings in a year last September, which had to be taken back by the government with the backlash from the young savvy crypto investors as they form a formidable force in the country now. Earlier real estate was the biggest issue in the country but with the rising prices of real estate in the country, young investors have turned towards stocks and crypto. Out of the total population of 51.85 Million, the country has 5 Million individual crypto accounts already.

This simply means that 10% of the total population are into crypto and the research has identified that most of them are crypto savvy Generation,z voters. In view of this, all of South Korea’s presidential candidates have announced crypto-friendly stances in a bid to win over young voters ahead of the election next month and are giving positive statements towards the regulation of crypto throughout their campaigns. The researchers have also concluded that 91% of the South Koreans have a smartphone and the internet penetration among smartphone users is over 96% and most of the population have at least some experience in trading. This makes them potential candidates to switch to crypto amidst the hyper-inflated economic conditions prevailing throughout the world.

Though the presidential candidates have taken a positive stance towards crypto regulation, real policy details will come post-election once a new administration comes to power and these details might have (investor protections, taxes, the travel rule, and policies to bring crypto companies back to South Korea) on the cards.